Turnover up by 10%, says GRUPO IBEROSTAR, new hotels & renos in store
IBEROSTAR Paraíso Beach

Turnover up by 10%, says GRUPO IBEROSTAR, new hotels & renos in store

PALMA DE MALLORCA — It was a solid year of growth for GRUPO IBEROSTAR, which reported a turnover of 2.03 billion euros, a 10% increase from 2015.

The company, which celebrated its 60th anniversary in 2016, has an international presence that extends to 30 countries. Spain continued to lead the field in terms of Mediterranean destinations, closing the year with record figures both in occupancy rates and results. Mexico and the Dominican Republic also enjoyed steady growth in occupancy, rates and profitability, as did Cuba, one of the Group’s key strategic targets.

Growth was fuelled by an ambitious investment program that saw the opening of hotels in new destinations, such as the United States (IBEROSTAR 70 Park Avenue in New York), and Ibiza (IBEROSTAR Santa Eulalia Ibiza).

This year, IBEROSTAR Hotels & Resorts will open six new hotels: IBEROSTAR Grand Hotel Portals Nous (Majorca, Spain); IBEROSTAR Berkely (South Beach, Miami); IBEROSTAR Bella Vista (Varadero, Cuba); IBEROSTAR Club Palmeraie Marrakesh (Morocco); IBEROSTAR Cancun (Mexico); and IBEROSTAR Playa Blanca (Cayo Largo, Cuba).

Cuba will see a lot of activity this year. The company will increase its hotel portfolio on the island to 17 properties by the end of the year. Major projects include the IBEROSTAR Riviera and the IBEROSTAR Grand Hotel Packard in Havana; the IBEROSTAR Casa Granda, IBEROSTAR Imperial and IBEROSTAR Gran Hotel in Santiago de Cuba; and the IBEROSTAR Colonial in Cayo Coco.

Noting the importance of the urban segment, the company has plans to increase the number of hotels it operates in major tourist capitals around the world. Within the next three years, IBEROSTAR Hotels & Resorts will have a total of 15 urban hotels in top destinations like Budapest, New York, Madrid, Miami, Havana, Barcelona, Lisbon, Santo Domingo and Lima.

Efforts will also be made this year in the modernization of its hotels, with 125 million euros being channelled into several renovation projects. These include IBEROSTAR Grand Hotel Bávaro (Punta Cana, Dominican Republic), IBEROSTAR Cancun (Mexico), IBEROSTAR Alcudia Park (Balearic Islands), IBEROSTAR Playa de Muro (Balearic Islands), IBEROSTAR Bahía de Palma (Balearic Islands), IBEROSTAR Santa Eulalia Ibiza (Ibiza, Balearic Islands), IBEROSTAR Málaga Playa (Andalusia), IBEROSTAR Lanzarote Park (Canary Islands), IBEROSTAR Anthelia (Canary Islands) and the IBEROSTAR Grand Hotel Salomé (Canary Islands).

To introduce ongoing improvements to the guest experience, IBEROSTAR Hotels & Resorts has set up an ambitious work program targeting several key areas, including gastronomy, décor and wellness. Last year, the company opened the Marea and Cataria restaurants at the IBEROSTAR Playa de Palma and IBEROSTAR Andalucía Playa, and also signed an agreement with El Capricho to serve what many consider to be “the finest meat in the world” at several of its Spanish hotels. The second edition of IberostarChef on Tour will continue over the next few months.